Adobe Systems Incorporated (ADBE) Shares are Down -0.45%

The share price of Adobe Systems Incorporated (NASDAQ:ADBE) was up +0.76% during the last trading session, with a day high of 100.21.

Adobe Systems Incorporated (NASDAQ:ADBE) is counting down the minutes until its earnings reveal tonight, and the stock's short-term options are flying off the shelves at a rapid-fire rate. 3,957,821 shares of the stock were exchanged.

The stock has its 200-day moving average of $40.28 and $41.07 as its 50-day moving average. The stock has a market cap of $50.14 billion, a PE ratio of 56.85 and a beta of 1.24. In the same period a year ago, the company reported adjusted EPS of $0.54 on revenue of $1.22 billion. Revenue also beat estimates coming in at $1.46 billion, a quarterly record for the company. The renowned research firms have predicted earnings of $0.78 a share for the upcoming quarter and $2.87 for the current fiscal.

Digital media annualized recurring revenue increased $285 million from last quarter, to $3.7 billion exiting the quarter, once again driven by strong adoption of both creative cloud and document cloud.

Meanwhile, Adobe Marketing Cloud brought in $404 million for the quarter, up 10 percent year-over-year. Being poised on beating the Street on the bottom line, earningswhispers.com expects it to post higher earnings for the season amounting to roughly 74 cents.

09/09/2016 - Adobe Systems Incorporated was upgraded to "hold" by analysts at Vetr Inc. Rosenblatt Securities reaffirmed a "buy" rating and set a $112.00 price target on shares of Adobe Systems in a report on Monday, June 13th.

As of last closing trade, the bid price was observed at $98.93 and the ask price was noted at $99.00.

Adobe Systems Incorporated (NASDAQ:ADBE) down -0.64% for the past 5 days, is under coverage of 0 analysts who collectively assign a buy rating on stock. They now have a Dollars 115 price target on the stock.

Adobe stock is up $3.65, or nearly 4%, at $104.22. The shares were sold at an average price of $103.47, for a total value of $2,783,239.53. Following the completion of the sale, the chief marketing officer now owns 46,828 shares of the company's stock, valued at $4,326,438.92. Also, EVP Bradley Rencher sold 37,562 shares of the stock in a transaction on Friday, July 1st. FMR LLC boosted its position in shares of Adobe Systems by 6.6% in the second quarter. Janus Capital Management LLC now owns 13,353,901 shares of the software company's stock worth $1,279,159,000 after buying an additional 2,215,100 shares during the last quarter. Year-to-Date the stock performance stands at 5.31%. First Allied Advisory Services Inc. increased its stake in shares of Adobe Systems by 2.9% in the second quarter. But over the long-term, it has to deliver strong revenue growth to justify that premium and the company's light revenue guidance for Q3 explains the recent stagnation in its share prices.